Sanibel Captiva Trust Company Inc. Has $28.25 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Sanibel Captiva Trust Company Inc. reduced its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 185,794 shares of the company's stock after selling 7,380 shares during the period. PepsiCo makes up about 0.9% of Sanibel Captiva Trust Company Inc.'s holdings, making the stock its 28th biggest holding. Sanibel Captiva Trust Company Inc.'s holdings in PepsiCo were worth $28,252,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Global Wealth Strategies & Associates grew its holdings in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock worth $27,000 after acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in PepsiCo in the third quarter worth about $28,000. Legacy Investment Solutions LLC bought a new stake in PepsiCo in the third quarter valued at about $31,000. Mattson Financial Services LLC bought a new position in PepsiCo during the 2nd quarter worth approximately $34,000. Finally, Rakuten Securities Inc. grew its position in shares of PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company's stock worth $34,000 after acquiring an additional 96 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on PEP. Morgan Stanley cut PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price objective on the stock. in a research note on Friday, September 20th. UBS Group lowered their price objective on shares of PepsiCo from $193.00 to $175.00 and set a "buy" rating for the company in a research report on Thursday. TD Cowen cut their target price on shares of PepsiCo from $183.00 to $160.00 and set a "hold" rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their target price on PepsiCo from $185.00 to $183.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Finally, StockNews.com upgraded PepsiCo from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $178.60.

PepsiCo Price Performance

Shares of PEP stock traded up $1.71 during mid-day trading on Friday, hitting $148.25. 7,213,692 shares of the stock traded hands, compared to its average volume of 5,895,834. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a market cap of $203.40 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54. The company's 50-day simple moving average is $155.37 and its 200-day simple moving average is $165.82. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.66%. PepsiCo's dividend payout ratio is currently 79.94%.

PepsiCo Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.